B. Riley Downgrades bebe stores, inc. (BEBE) to Neutral
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bebe stores (BEBE) Sees Q4 Comps in Negative Low Single Digit Range; Plans to Exit 2b Concept
June 27, 2014 4:18 PM EDTbebe stores, inc. (NASDAQ: BEBE) today announced the exit of its 2b business and a comprehensive cost reduction program as part of the Company's on-going turnaround plan. Following a strategic business review, the Company has identified key initiatives it estimates will generate approximately $9-10 million in annualized pre-tax savings, beginning in fiscal 2015.
Following careful evaluation, the Company has made the determination to exit the 2b business by the end of fiscal 2014, July 5, 2014, enabling it to increase its focus on the core bebe brands retail and outlet stores, e-commerce and international licensing business. The 16 2b... More
